For Agent Use Only. Not For Use With The Public.

Transcription

1 What s New at John Hancock? Todd Miles, CFP Account Distribution Mgr For Agent Use Only. Not For Use With The Public. Insurance policies and/or associated riders and features may not be available in all states. Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA and John Hancock Life Insurance Company of New York, Valhalla, NY LIFE /15 MLINY

2 Capture More Sales New John Hancock Term provides your clients with solutions to meet a variety of financial needs. It features: 2

3 Term 2015: Highlights Dramatic premium reductions 12% average decrease for males at top-3 risk classes, ages Available at $250,000+ Competitive conversion option New UCheck Underwriting Tool For quick access to potential underwriting outcomes 3

4 Seeing is Believing 4

5 Competitive Sweet Spot While John Hancock Term can be an ideal choice for a wide range of clients, it is most competitive for: Males Term 10 + Term 15 Top 3 risk classes Ages Face amounts $250,000 and above 5

6 Competitive Position at $500,000 Males, Age 60, Term 10 Super Preferred Non Smoker Banner $1,350 New JH Term $1,360 Lincoln $1,365 Genworth $1,370 AXA $1,375 MetLife $1,384 Transamerica $1,440 Voya $1,450 Prudential $1,455 Pacific Life $1,530 AIG $1,534 Principal $1,557 Old JH Term $1,610 Preferred Non Smoker Banner $1,585 Genworth $1,585 New JH Term $1,625 Lincoln $1,630 AXA $1,660 MetLife $1,704 Prudential $1,720 Voya $1,740 Transamerica $1,770 Principal $1,785 AIG $1,839 Old JH Term $1,945 Pacific Life $2,060 Standard Plus Non Smoker Genworth $1,935 Banner $2,025 AXA $2,045 New JH Term $2,100 Voya $2,280 Transamerica $2,315 Principal $2,355 Prudential $2,355 AIG $2,374 Lincoln $2,470 Old JH Term $2,485 Pacific Life $2,670 MetLife $2,689 The data shown is taken from various company quotes. Competitor information is current and accurate to the best of our knowledge as of January These comparisons cannot be used with the public and complete personalized policy quotes for each representative company must be presented or discussed with your clients. Please have your clients consult with their professional advisors to find out which type of life insurance is more suitable. 6

7 Conversion Feature Conversions 1 to any fully underwritten permanent product in the first six years Convertible to designated product in years 7-10 Maximum conversion age: 70 Conversions to survivorship Available in first six policy years (up to age 70), subject to retention Underwriting is required only on the life not previously covered under the original Term contract. 7

8 Riders and Features Total Disability Rider 2 Waives premium in event of total disability Available ages up to $5 Million of coverage Accelerated Benefit Rider 3 Provides Living Benefit if insured is certified to be terminally ill with a life expectancy of 1 year or less Lesser of 50% of DB or $1 Million Term Conversion Extension Rider for added flexibility Extends normal conversion period to full level term duration or year until attained age 70 Available on 15-Year Term and 20-Year Term, ages

9 UCheck Underwriting Tool Applies to Term 2015 only Available on JH Illustrator & the Field Underwriting Guide on Works for best risk classes only (not substandard cases) Makes it easier to find hidden healthy individuals who benefit from John Hancock s progressive underwriting See next slide for an example Or, find us on one of these industry tools! Powered by COMPULIFE 9 9

10 Case Study: Hidden Healthy Scenario: Male, 55, Non Smoker who regularly exercises. Build, blood pressure, and cholesterol all qualify as Best Class, father still alive at 85, but mother died at 58 of Stomach CA. Applying for $1M of 15-Year Term. When Comparing at Preferred, John Hancock is in 4 th place, and the top-7 companies are within $15 Company Risk Class Premium % from JH Principal Preferred $2,755-1% Banner Preferred $2,760 0% Lincoln Preferred $2,760 0% MetLife Preferred $2,769 0% New JH Term Preferred $2,770 0% Genworth Preferred $2,770 0% American General Preferred $2,774 0% Prudential Preferred $2,925 +6% Transamerica Preferred $2,930 +6% After using an UW quoting tool, John Hancock moves to the top with a significant advantage! Company Risk Class Premium % from JH New JH Term Best $2,150 0% Principal Preferred $2, % Banner Preferred $2, % Lincoln Preferred $2, % MetLife Preferred $2, % Prudential Preferred $2, % Genworth Standard Plus $3, % American General Standard $4, % Transamerica Standard $4, % The data shown is taken from various company quotes. Competitor information is current and accurate to the best of our knowledge as of January These comparisons cannot be used with the public and complete personalized policy quotes for each representative company must be presented or discussed with your clients. Please have your clients consult with their professional advisors to find out which type of life insurance is more suitable. Source/Footnote 10

11 Support Tools Marketing Materials available on jhsalesnet.com Consumer guide Producer guide Industry underwriting quoting tools, including UCheck Illustrations on jhillustrator.com National Sales Desk Support, , option 2 11

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13 What s Next in LTC? 13

14 LTC Industry Trends Industry Sales ($M) Lower sales despite the growing need Higher premiums Carrier exits Customers dealing with rate shocks Source: LIMRA; Sales for 2014 are estimated 14

15 The Traditional LTC Product Suited for a world of stable investment yields and stable long-term care experience Customers have no warning about emerging experience until news of a rate increase Few options to lower premiums by adjusting benefits The Use it or Lose it problem 15

16 Is there a better way? 16

17 Coming soon from John Hancock Traditional LTC Benefits at Great Price Married Couple, Combined Premium, 3% Compound Inflation COMPANY PREMIUM % DIFF John Hancock (Initial) $2,706 - Mutual of Omaha $3, % Genworth $3, % MassMutual $3, % Transamerica $3, % 3% Compound Inflation, Combined premiums for $4,500 Monthly Benefit, 3-year BP 90-day Elimination Period 17

18 Product Preview Very competitive Premiums Featuring 3% compound inflation Improved product design Built to deal with uncertainty Transparent design that results in modest annual premium fluctuation and reduces the risk of rate shock in future years New tools for managing policies In-force projections Options to adjust benefits any time in order to lower premiums A Flex Account that can be used to lower premiums or increase benefits 18

19 The Next Generation of LTC A SUSTAINABLE product design that can handle uncertainty AFFORDABLE premiums for traditional benefits FLEXIBILITY for customers over how they manage premiums and benefits Increased TRANSPARENCY regarding policy performance GUARANTEES in benefit growth and in how John Hancock returns performance to policyholders 19

20 Wed, May 6 th is CPS Day at John Hancock.. Stay Tuned! 20

21 Disclosures Insurance policies and/or associated riders and features may not be available in all states. Some riders may have additional fees and expenses associated with them. Guarantees are based on the claims-paying ability of the issuer. 1. Term is convertible to any fully underwritten single life permanent policy in the John Hancock portfolio for the lesser of the first six policy years or to age 70. In policy year seven through 10, the policy owner can convert to a product designated for conversion. See Term technical guide for restrictions and more information. 2. In the event of total disability, the Total Disability Waiver rider waives the premium. Rider available to issue age 55. If disability occurs before age 60, premiums are waived until recovery or termination of the contract, whichever is earlier. If disability occurs between ages 60 and 65, premiums are waived until the earliest of contract termination, recovery or age 65. The cost for this rider is based on the client s age at issue. Maximum Benefit $5,000 per month. 3. The Accelerated Benefit rider provides a living benefit if the insured is certified to be terminally ill with a life expectancy of 12 months or less. Benefits may be taxable under current law. Policy must be owned by the insured. Clients should consult their personal tax advisors regarding the tax implications of benefits received under the Accelerated Benefit. This provision allows the insured to receive up to 50% of the death benefit of the contract, to a maximum of $1 million. The death benefit is reduced by the rider benefit amount plus one year s interest at current loan rates on the benefit paid, and an administrative expense charge. For agent use only. Not for use with the public. Insurance products are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY Slide 21 of 13